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• <br />• <br />STAFF ORIGINATOR: <br />CITY COUNCIL <br />MEETING DATE: <br />TOPIC: <br />BACKGROUND: <br />AGENDA ITEM 7H <br />Michael Grochala <br />April 8, 2002 <br />Consideration of Resolution No. 02 -30 <br />Approving McDonalds Site Improvement <br />Performance Agreement <br />The City Council approved the Site and Building Plans for the McDonalds, with <br />conditions per Resolution No. 01 -168 on October 22nd , 2001. A revised set of <br />plans incorporating the required modifications prepared by Ryan Engineering, <br />dated February 4, 2002, was received by the City on March 12, 2002. <br />In accordance with the Site and Building Plan approvals, staff has prepared a <br />Site Improvement Performance Agreement. The agreement provides for the <br />following: <br />1. Submittal by the developer of a Letter of Credit representing thirty -five <br />(35) percent of the site improvement costs to insure completion of the <br />project in accordance with the approved plans. <br />2. Waiver of procedure and appeal of special assessments for the <br />Lake /Apollo Drive Improvements upto the amount of $139,406. <br />3. Deposit of a cash escrow to reimburse the City for costs incurred by the <br />City related to the development and improvement of the site and <br />developer improvements. <br />OPTIONS: <br />1. Approve Resolution No. 02 -30 <br />2. Do not authorize execution of the agreement. <br />3. Retum to staff for further consideration. <br />